(In the United States) I have never heard this as a conservative viewpoint.
> In fact, earnings are strongly linked with intelligence, which indicates that they are linked to productivity, just as economic theory predicts.
I'm confused. What does productivity mean?
Are schoolteachers productive? Are CEOs productive? What metrics does one use to compare the productivity between the two?
Even if you can measure the productivity of each, isn't their productivity necessarily contingent on other things functioning? In other words, wouldn't a coal CEO's productivity decline if all coal miners quit?
What about if the CEO quit, or died suddenly? What would happen to the coal miner's productivity as the board searched for a new CEO? I imagine it would change much less than the other way around.
If you assume that productivity at any given point is finite, and the CEO suddenly dies, where does that productivity go? Does the president suddenly gain all the productivity value the CEO had?
In a microcosm like a coal company, I'd question who really 'gets' the productivity points. (Miners vs CEO vs board vs shareholders). I wouldn't think those making the most money necessarily have the actual highest productivity values. It would seem to be nearly the opposite, but maybe I have this scheme of modeling things all wrong.